Bitcoin Hits 12-Week Low as Fed Rate Fears Undo Most of Summer Rally
MARKETSFederal Reservecoinbrief/daily · 1 source
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What happened
Bitcoin has dropped to a 12-week low, near August levels, wiping out most of its summer rally. The article cites persistent inflation, growing expectations of another Federal Reserve rate hike, and ETF withdrawals as the main pressures.
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What to do
- Watch upcoming US inflation data and Federal Reserve signals on further rate hikes, as the article links them to current pressure on prices.
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